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Every month, savers have the possibility to win big prizes because the Premium Bonds successful numbers are introduced. There are actually 24 million folks participating within the government-backed savings scheme, with greater than £127bn banked.
Premium bonds are an investment product from the National Savings and Investment (NS&I), which is owned by the federal government. Each month, thousands and thousands of savers are entered right into a prize draw to win money prizes starting from £25 to £1 million, with two millionaires made at each draw.
Every £1 entered has a 22,000-to-one probability of successful. The minimal funding is £25, whereas the utmost is £50,000.
These financial savings don’t accrue curiosity as with common financial institution accounts, however are put up towards a random digital prize picker referred to as ‘Ernie’ – the Electronic Random Number Indicator Equipment.
The subsequent date of the following draw is Monday 3 February.
What are the probabilities of successful?
There are many premium bond winners each month, however the precise probability of successful stays pretty low. Most folks won’t ever win a prize, which means their funding will keep the identical. However, the scheme can be risk-free, which means cash gained’t be misplaced both.
Analysis by cash skilled Martin Lewis discovered that the ‘rate of interest’ on premium bonds accounts is 4 per cent when all winnings are thought-about – however notes most individuals gained’t see something like this. Many financial savings accounts within the UK additionally supply the next rate of interest than this, which can be way more constant.
The distribution of prizes adjustments barely each month. Here have been the ends in January 2025:
- £1 million x 2
- £100,000 x 82
- £50,000 x 163
- £25,000 x 328
- £10,000 x 818
- £5,000 x 1,636
- £1,000 x 17,163
- £500 x 51,489
- £100 x 1,987,844
- £50 x 1,987,844
- £25 x 1,803,871
How to test in the event you’ve gained
To test in the event you’ve gained a prize on premium bonds, you possibly can go to the NS&I checker on its website and enter your bond numbers.
There can be an NS&I app which permits savers to test outcomes on the go.
